Riyadh - Sharikat Mubasher: Saudi Arabia’s Small and Medium Enterprises General Authority (Monsha’at) launched the Founders Hub program, in collaboration with Microsoft, to nurture tech entrepreneurs in the Kingdom.

The program, launched during Biban 2024, aims to foster entrepreneurship in the tech field by providing entrepreneurs with necessary technical tools and business development services as well as consultancies, training, and guidance sessions, the authority announced in a statement.

Participants will be able to connect with local and global investors and entrepreneurs and access Azure credit balances of up to $120,000, in addition to balances on OpenAI, GitHub, and Visual Studio.

It is worth noting that Monsha’at and Microsoft inked a memorandum of understanding (MoU) to support technology startups and exceptional entrepreneurs by providing them access to support, technology, and resources they need to grow.

Biban 2024 was organized by Monsha’at from 5 to 9 November and welcomed more than 1,350 local and international exhibitors, over 250 speakers, and more than 150 enablement entities from around the world.

It targeted creating a stimulating environment, raising administrative, financial, and technical competencies, and motivating the owners of ideas to launch their projects by allowing them to meet with local and global experts and share knowledge with key decision-makers and investors.

The event focused on empowering the entrepreneurial ecosystem in Saudi Arabia through nine doors: Enablement Door, Fast-growing Enterprises Door, Funding and Investment Door, Startup Door, Innovation Door, E-commerce Door, Franchise Door, Market Door, and Start Door.